BigBear.ai falls on bigger Q3 loss
BBAI•BigBear.ai’s Q3 loss widened to 19 cents per share from 3 cents a year earlier, while revenue of $43.6 million beat analysts’ $39 million estimate. The company raised its revenue forecast to $150 million-$165 million.
1. Quarterly results
BigBear.ai reported a Q3 loss of 19 cents per share, compared with a loss of 3 cents a year earlier. The company recorded a $76.7 million non-cash goodwill impairment charge and a $21.9 million hit from some derivative contracts. Revenue was $43.6 million, above analysts’ estimate of $39 million.
2. Raised forecast
BigBear.ai raised its revenue forecast to $150 million-$165 million, up 5% from the midpoint of its previous range. CFO Sean Ricker said, “AI adoption in our markets is still in its early stages, and our recent wins show strong and growing demand.”
